Collins said Friday that stimulating the economy through tax reform can boost federal revenue and take-home pay for Americans. In a statement, she said, "I don't think there is a single American who thinks that our current tax code is fair, simple, or promotes economic growth."

Collins had pressed for changes in the bill.

An amendment she secured would let homeowners deduct up to $10,000 in property taxes. She would make up the estimated $146 billion in lost revenue by keeping the personal income tax rate for the wealthiest earners at 39.6 percent and making a smaller cut in the corporate tax rate.